After the Central Government banned the old `500 and `1,000 currency notes on November 8 in a bid to curb black money and terror funding in the country, local residents are facing a lot of problems but have appreciated the steps taken by Prime Minister Narendra Modi.
The residents of the town are frustrated as most of the ATMs ran out of cash within couple of hours of being loaded. Many of the ATMs here are yet to be functional. The people are complaining that there are facing problems galore due to shortage of cash needed for meeting their daily expenses, sources said.
People were also seen queuing up near the ATMs from as early 7 am to avoid the torrid sun and swelling crowds. As the ATMs are running out of cash people had to stand in serpentine queues to avail cash from the banks. But despite that they put up a brave face and welcomed PM Modi’s demonetisation policy, the sources said.
“It is a very good step for our nation. Those having black money are the biggest losers. The problem might continue for some days. But we have to bear it for growth of our nation, said a local resident of the town Mitabrata Mishra.
Due to lack of preparation, people are suffering a lot. But the policy is good for us in the long run, said a lawyer Shib Narayan Mahapatra.
If people could get even limited quantity of cash from the ATMs, they wouldn’t be worried. But that is also not possible as most ATMs are still not functional. But what the opposition parties are saying is rubbish, said social activists BB Bagarty. A local resident Upendra Sahu and AES College president Amrut Naik, who had queued up near an ATM for cash said “this is a surgical strike by Narendra Modi against black money.
Demonetisation has larger benefits for the nation’s economy in the long term and we all are with the PM for brighter future of our nation,” they said.